AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) said initial drilling results from its flagship Uis mine in Namibia produced better-than-expected lithium grades.
A lithium and tantalum infill drilling programme is underway at the main V1/V2 pegmatite at Uis, which is currently being mined for tin, to increase the confidence in the existing lithium and tantalum estimates.
"We are very pleased to announce these drilling results which have produced lithium grades surpassing our expectations and reinforce our belief that Uis is host to one of the largest lithium resources globally,” said chief executive Anthony Viljoen.
“While the V1/V2 pegmatite displays impressive dimensions and is open-ended at depth, a multitude of surrounding pegmatites present significant upside potential.”
Significant V1/V2 pegmatite intersections include: 132 metres (m) at 0.168% tin, 75 parts per million (ppm) tantalum and 0.74% lithium oxide (Li2O); and 110m at 0.171% tin, 92 ppm tantalum and 0.75% lithium oxide.
Notable intersections of lithium mineralisation within the pegmatite include: 8m at 1.08% lithium oxide; 10m at 1.05%; 12m at 0.99%; and 45m at 1.04%.
"As a former mining operation, Uis has been extensively drilled but historic assaying has focused solely on the tin with no regard for the lithium or tantalum in the deposit,” said Viljoen.
“This programme will increase the confidence of the current lithium and tantalum estimates and is part of our strategy to bring these two commodities into production alongside our tin operation.”
A preliminary economic assessment (PEA) for the Phase 2 expansion of the mine, announced in April, “highlighted the economic potential of these by-product elements which are game changing”, Viljoen added.
“The construction of a new lithium pilot plant will allow us to progress to commercial production phases much faster than a new greenfield lithium resource elsewhere."